AUDUSD struggles to defend 0.6400, Australia Consumer Inflation Expectations, US CPI eyed – by anilpanchal7 AUDUSD RiskAppetite Inflation RBA China
China’s covid woes, softer inflation data joined pre-US inflation anxiety to weigh on prices.Aussie Consumer Inflation Expectations can offer immediate directions but US CPI is the key.bears pressure the quote to revisit 0.6400, despite the latest inaction around 0.6420, amid lackluster markets. In doing so, the Aussie pair extends the previous day’s losses, the biggest in one month, during the early hours of the key Thursday.
Elsewhere, dovish comments from the Reserve Bank of Australia’s Deputy Governor Michele Bullock also contributed to the AUDUSD pair’s weakness. There are “good reasons to think we are approaching the peak of inflation this cycle,” said RBA’s Bullock on Wednesday. The policymaker added, “We have already raised It should be noted that the fears of a government gridlock in the US, due to the midterm elections, also exerted downside pressure on the risk-barometer pair.
On the other hand, New York Federal Reserve President John Williams made some comments on inflation expectations in the text of a speech to be delivered to an audience in Zurich. “Relatively stable long-term inflation expectations are good news,” stated the policymaker. Additionally, mixed headlines surrounding Russia also tried to tame the risk-off mood but failed to gain major attention. Russia appears to retreat from the only Ukrainian regional capital captured, namely Kherson, whereas President Vladimir Putin is less likely to attend the upcoming G-20 summit in Bali, starting from November 15.
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